Delegation entices South African investors to Zimbabwe

By MTHULISI SIBANDA

JOHANNESBURG, (CAJ News) – ZIMBABWE Vice President, Emmerson Mnangagwa, has urged South African companies to forego economic problems and exploit investment opportunities he said lay abundant in the neighbouring country.
Mnangagwa was addressing delegates at the Ease of Doing Business in Zimbabwe Investment Conference held in Sandton, Johannesburg on Thursday. The event ends on Friday.
Held under the theme, “Demystifying the Myth: Doing Business in Zimbabwe”, the conference is aimed at inviting international investors and Zimbabweans residing in South Africa to invest back home.
“I urge prospective investors to grab the various investment opportunities which exist in our diversified sectors,” he said.
He said the sectors included agriculture, mining, manufacturing, transportation, infrastructure, information and communication technology, financial services, water and health.
Mnangagwa, who led a delegation of cabinet ministers to South Africa said Zimbabwe had a comparative advantage in terms of its location, education and diversified economy.
“Its strategic location at the heart of Southern Africa makes it the natural regional gateway and the spine which interlinks Southern African logistics, railways, roads, power and telecommunications,” he said.
“Going forward, I further urge you to consider the possibility of holding provincial conferences and implore the business community and prospective investors to come up with a matrix of recommendations on the way forward.”
A number of South African companies are already operating in Zimbabwe, among them Standard Bank, PPC and Zimplats.
“The companies have contributed to the resilience of the Zimbabwean economy,” Mnangagwa said.
He allayed fears arising from Zimbabwe’s indigenization laws, which were said to be deterring investment into the struggling economy.
Mnangagwa also pledged his country’s commitment to holding credible elections next year.
“We believe that we shall hold free and fair elections during 2018. If all parties commit to that, we shall have violence-free elections such as the polls held in 2013.”
Macro-Economic Planning and Investment Promotion Minister, Obert Mpofu, said in any case, elections in the country had never been a deterrent to investments.
“We have never encountered a situation whereby investors have not withdrawn or stalled investments because of election results. They only raise concern about indigenization laws,” Mpofu said.